Gold loan interest rate and applicable charges
Types of fee |
Applicable charges |
Interest rate |
9.50% to 24% per annum |
Processing fees |
0.15% of the loan amount (inclusive of applicable taxes). |
Stamp duty (as per respective state) |
Payable as per state laws and deducted upfront from loan amount |
Cash handling charges |
Rs. 50 (inclusive of applicable taxes) applicable for cash disbursement only. |
Penal charge |
3% per annum on Outstanding Balance. Penal Charge will be over and above the interest rate which shall be applicable/chargeable in case of default in repayment of the Outstanding Dues post-maturity. |
Convenience fee |
Convenience fee of Rs. 149 (inclusive of applicable taxes) shall be levied for part release of ornament(s) pledged. |
Part-prepayment charges |
NIL |
The interest rates applicable on gold loans are dynamic and frequently change due to external factors.
Example : For a Gold Loan of Rs. 1 Lakh from Bajaj Finance at an interest rate of 10% p.a. for a tenure of 12 months, the interest amount will be Rs. 834 per month.
Disclaimer
Bajaj Finance Limited (BFL) has the sole and absolute discretion, without assigning any reason to accept or reject any application as per BFL policy. *